Denali Advisors LLC Sells 100 Shares of TD SYNNEX Co. (NYSE:SNX)

Denali Advisors LLC lessened its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,012 shares of the business services provider’s stock after selling 100 shares during the quarter. Denali Advisors LLC’s holdings in TD SYNNEX were worth $471,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in shares of TD SYNNEX by 11,908.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,441 shares of the business services provider’s stock worth $173,000 after acquiring an additional 1,429 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of TD SYNNEX by 10.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,409 shares of the business services provider’s stock valued at $169,000 after purchasing an additional 133 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in TD SYNNEX by 15.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,300 shares of the business services provider’s stock worth $756,000 after purchasing an additional 862 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in TD SYNNEX by 13.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 8,595 shares of the business services provider’s stock worth $1,017,000 after purchasing an additional 995 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its position in TD SYNNEX by 29.2% during the third quarter. Pallas Capital Advisors LLC now owns 5,322 shares of the business services provider’s stock valued at $642,000 after buying an additional 1,203 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

SNX stock opened at $137.89 on Friday. The stock’s 50 day simple moving average is $134.15 and its 200 day simple moving average is $124.11. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 12-month low of $101.21 and a 12-month high of $145.10. The stock has a market capitalization of $11.63 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49.

TD SYNNEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.28%. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

Insider Buying and Selling

In other news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the sale, the director now owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction of $182,906.30. Following the transaction, the chief financial officer now directly owns 48,362 shares of the company’s stock, valued at $5,858,089.06. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,289 shares of company stock worth $3,639,500. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SNX shares. JPMorgan Chase & Co. increased their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays lifted their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and upped their price target for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Finally, Royal Bank of Canada lifted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, TD SYNNEX presently has an average rating of “Moderate Buy” and an average price target of $147.50.

TD SYNNEX Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.